REPORT: Company Behind Crazy Taiwanese Animations Is Hemorrhaging Cash And Looking To Sell

We’re not sure how this happened given its brilliance, but Next Media Ltd., the Taiwanese company behind the hilarious animated takes on current events, has been taking massive losses and is now up for sale.The Taipei Times reports the firm is seeking a $500 million price.

Owned by Jimmy Lai — Hong Kong’s version of Rupert Murdoch and a vocal critic of Beijing — Next’s foray into local TV broadcasting was reportedly hemorrhaging cash, according to the Times.

Bear in mind that the company does a lot more than just the Taiwanese animations that bloggers are so fond of.

While Lai initially attempted to sell only that division, he was advised to sell the entire firm to get a higher asking price, the Times said.